After the FED, Treasury and key persons in the American government made a hefty of clean, effective moves, the stock market looks much better.
It was a relief to the Dow Jones and the stock market at large when the White House and the Senate agreed on a deal regarding the coronavirus stimulus bill.
India is going on a nationwide quarantine. For at least the next 24 hours all Indians are discouraged to go to the streets. Also, the WHO thinks that the United States can become the next hot spot for coronavirus pandemic.
U.S. Senate leaders and the Trump administration neared an agreement on a massive stimulus bill that could inject $2 trillion into the economy to blunt the impacts of the coronavirus.
Bitcoin price was at about $6,500 yesterday, having the steam for a rise from $5,800. The equity markets are under pressure, while cryptocurrency shows strength.
The FED’s Jerome Powell and Secretary of Treasury Steven Mnuchin announced insane stock buyout. They want to support the economy to deliver relief to small businesses. They implement a zero rate on repo operations to make sure the bank has short-term funding.
On Monday, the Dow Jones corrected another 3% falling 600 odd points and reaching close to 18,500 levels. Another bill passed by the U.S. lawmakers failed to get the Senate clearance. On the other hand, the Federal Reserve has announced a strong stimulus to support the ailing economy.
The fiscal stimulus bill presented by the Trump government failed to receive a key Senate vote and was halted from passing. The Democrats said that the bill did little to help out workers and more to bail out companies.
Tom Barrack, the head of Colony Capital real estate investment firm, claims that the next big crisis can be harder than the Great Depression. He suggests that the market needs an additional supply of liquid cash, as well as borrow system restructuring until 2024.
Bitcoin price experienced a slight fall under $6,000, despite the fact that people started to look more into what is going on in the sphere. The peak of searches comes on the 13 March, when BTC had one of the scariest falls in the last months.
Bitcoin price is down 12.5%, S&P 500, Nasdaq indexes as well as companies like Berkhire Hathway has also lost significantly since the beginning of the year. Oil war adds fire to the financial crash party.
As the search for COVID-19 vaccines intensifies, there are at least 20 coronavirus vaccines in the pipeline. However, Gilead Sciences (GILD) and Moderna (MRNA), the stocks of the leaders in the race, tumbled as the week came to the end.
JPMorgan’s chief U.S. equity strategist thinks that the S&P 500 could return to record highs by early next year if the U.S. policy of efficiently containing the coronavirus outbreak works and the government rapidly moves forward with fiscal stimulus.
United Airlines (UAL) stock is said to have good chances to rise after the COVID-19 situation is over. Today it is fully in the green.
Dow Jones futures and S&P 500 futures have changed little this morning, while Nasdaq futures rose modestly after California issued a “stay-at-home” order to slow the Covid-19 spread.